Middle Eastern aviation, a turning point?
After years of huge growth and investment, the big Middle Eastern airlines are being forced to cut capacity and costs in response to the collapse in their markets. With no domestic market to fall back on, will the pandemic mark a turning point in their fortunes?
Waiting for a vaccine: the big three European network airlines in Q3
All three of the big network airline groups in Europe made big losses in the third quarter. That is going to continue until we see a recovery in demand. We got some good news on that today, but which company coped best in Q3 and how are they doing getting themselves in shape for the future?
Ryanair posts a profit for the September quarter
Excluding exceptional hedging costs, Ryanair became the first European airline to post a quarterly profit since the pandemic began. Impressive cost performance lay behind this achievement, putting other airlines on notice that they need to up their game.
Outlook for European airline revenue in Q3
As we enter the final month of the third quarter, what can we say about how much revenue Europe’s airlines are likely to have earned when they report their next quarterly results?
Virgin Atlantic rescue deal, a drop in the ocean
Next Tuesday, Virgin Atlantic’s creditors will vote on a restructuring deal aimed at avoiding the company falling into bankruptcy. What is at stake in the vote and will the changes be enough to save the company?
Europe’s big airlines clear the first hurdle
With the second quarter results now in for all the big European airlines, how well did they manage the grounding phase and what kind of financial position are they each in for the restart?
Willie Walsh’s last IAG results
Willie Walsh presented his last set of IAG results before he heads off into retirement at the start of September. How well did the team at IAG do in bringing down costs and managing cash in the face of the worst airline downturn in the history of the industry?
Bleeding out
There was much red ink on display in the big three US network carriers Q2 results. Who did the best job maximising revenue, minimising costs and stemming the cash burn?
Sweet Redemption for JetBlue
We take a look at the value opportunity for JetBlue for its loyalty program TrueBlue following the recent announcement of a strategic partnership with American Airlines.
British Airways cuts a deal with its pilots
Yesterday BA’s pilot union BALPA announced that it was launching a formal consultation with its members over the terms of a deal that has been negotiated with the company to address the massive hit to the airline’s finances from COVID-19. I compare the terms to those that were rumoured at the start of the month.
Delta records $7 billion pre tax loss for June quarter
Yesterday, Delta became the first of the big airlines to reveal the scale of the financial impact of the COVID-19 crisis when it reported its results for the quarter ending June 2020.
Virgin’s £1.2 billion rescue deal, what has changed?
Virgin Atlantic has announced that it has secured a £1.2 bn rescue deal, up from the previously rumoured £900m package. Where has the new money come from, and is it really new money at all?
Virgin Atlantic rescue: do the sums add up?
What can we expect from the rumoured £900m Virgin Atlantic rescue deal?
British Airways pilot deal, what does it tell us?
British Airways has reportedly reached a deal with its pilot unions to reduce costs in the face of COVID-19. If media reports about the deal are correct, what does it tell us about BA's capacity plans and its attempts to rebuild profitability?
IAG versus Air France-KLM: a tale of contrasts
My previous post comparing the liquidity levels of Lufthansa with IAG proved to be fairly popular. So I've done a sequel looking at the other big network airline group, Air France-KLM, again using IAG as the reference point.
You don’t know what you’ve got till it’s gone
Comparing the liquidity positions of IAG and Lufthansa, given the huge difference in levels of government support.